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ਮਾਰਚ 27, 2023

RBI imposes monetary penalty on Kolkata Police Co-operative Bank Ltd., Kolkata, West Bengal

The Reserve Bank of India (RBI) has imposed, by an order dated March 24, 2023 a monetary penalty of ₹1.10 lakh (Rupees One lakh Ten thousand only) on Kolkata Police Co-operative Bank Ltd., Kolkata, West Bengal (the bank) for contravention of/ non-adherence with certain provisions of the ‘Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) rea

ਮਾਰਚ 27, 2023

RBI imposes monetary penalty on Mehsana District Central Co-operative Bank Ltd., Mehsana (Gujarat)

The Reserve Bank of India (RBI) has, by an order dated March 24, 2023, imposed a monetary penalty of ₹2.10 lakh (Rupees two lakh ten thousand only) on Mehsana District Central Co-operative Bank Ltd., Mehsana (Gujarat) (the bank) for contravention of/non-compliance with certain provisions of directions issued by RBI contained in the Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016, and RBI directions on ‘Membership of Credit Information Companies (CIC

ਮਾਰਚ 27, 2023

RBI imposes monetary penalty on Vyapari Sahakari Bank Maryadit, Solapur (Maharashtra)

The Reserve Bank of India (RBl) has imposed, by an order dated March 24, 2023, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Vyapari Sahakari Bank Maryadit, Solapur (Maharashtra) (the bank) for contravention of/ non-adherence with the directions issued by RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions - UCBs and Board of Directors-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provi

ਮਾਰਚ 20, 2023

RBI imposes monetary penalty on Lokmangal Co-operative Bank Ltd., Solapur (M.H.)

The Reserve Bank of India (RBl) has imposed, by an order dated March 14, 2023, a monetary penalty of ₹3.00 lakh (Rupees Three lakh only) on Lokmangal Co-operative Bank Ltd., Solapur (the bank) for contravention of/non-adherence with the directions issued by RBI to Urban Co-operative Banks on Exposure Norms and Statutory/Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Sect

ਮਾਰਚ 20, 2023

ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਇੰਪੀਰੀਅਲ ਸ਼ਹਿਰੀ ਸਹਿਕਾਰੀ ਬੈਂਕ ਲਿਮਟਿਡ, ਜਲੰਧਰ, ਪੰਜਾਬ ‘ਤੇ ਆਰਥਿਕ ਜੁਰਮਾਨਾ ਲਗਾਇਆ

੨੦ ਮਾਰਚ ੨੦੨੩ ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਇੰਪੀਰੀਅਲ ਸ਼ਹਿਰੀ ਸਹਿਕਾਰੀ ਬੈਂਕ ਲਿਮਟਿਡ, ਜਲੰਧਰ, ਪੰਜਾਬ 'ਤੇ ਆਰਥਿਕ ਜੁਰਮਾਨਾ ਲਗਾਇਆ ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ (ਆਰਬੀਆਈ) ਦੇ 10 ਮਾਰਚ 2023 ਦੇ ਆਦੇਸ਼ ਦੁਆਰਾ, ਇੰਪੀਰੀਅਲ ਸ਼ਹਿਰੀ ਸਹਿਕਾਰੀ ਬੈਂਕ ਲਿਮਟਿਡ, ਜਲੰਧਰ (ਬੈਂਕ) 'ਤੇ ਬੈਂਕਿੰਗ ਰੈਗੂਲੇਸ਼ਨ ਐਕਟ, 1949 ਦੀ ਧਾਰਾ 56 ਦੇ ਨਾਲ ਪੜ੍ਹੀ ਜਾਣ ਵਾਲੀ ਧਾਰਾ 35ਏ ਦੀ ਉਲੰਘਣਾ ਕਰਨ ਲਈ ₹1.00 ਲੱਖ ਰੁਪਏ (ਇੱਕ ਲੱਖ ਰੁਪਏ) ਦਾ ਆਰਥਿਕ ਜੁਰਮਾਨਾ ਲਗਾਇਆ ਹੈ। ਇਹ ਜੁਰਮਾਨਾ ਬੈਂਕਿੰਗ ਰੈਗੂਲੇਸ਼ਨ ਐਕਟ, 1949 ਦੀ ਧਾਰਾ 46(4)(i) ਅਤੇ ਧਾਰਾ 56 ਦੇ ਨਾਲ ਪੜ੍ਹੀ ਜਾਣ ਵਾਲੀ ਧਾਰਾ 47A(1)(c)

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ਮਾਰਚ 20, 2023

RBI imposes monetary penalty on Raigad Sahakari bank Ltd., Mumbai

The Reserve Bank of India (RBI) has, by an order dated March 16, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Raigad Sahakari bank Ltd., Mumbai (the bank) for contravention of operational instructions issued under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949 (th

ਮਾਰਚ 06, 2023

ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਦੁਆਰਾ ਦੀ ਨਕੋਦਰ ਹਿੰਦੂ ਸ਼ਹਿਰੀ ਸਹਿਕਾਰੀ ਬੈਂਕ ਲਿਮਟਿਡ, ਨਕੋਦਰ ‘ਤੇ ਲਗਾਇਆ ਗਿਆ ਆਰਥਕ ਜੁਰਮਾਨਾ

06 मार्च 2023 ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਦੁਆਰਾ ਦੀ ਨਕੋਦਰ ਹਿੰਦੂ ਸ਼ਹਿਰੀ ਸਹਿਕਾਰੀ ਬੈਂਕ ਲਿਮਟਿਡ, ਨਕੋਦਰ 'ਤੇ ਲਗਾਇਆ ਗਿਆ ਆਰਥਕ ਜੁਰਮਾਨਾ ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ (ਆਰਬੀਆਈ) ਦੇ 01 ਮਾਰਚ 2023 ਦੇ ਆਦੇਸ਼ ਦੁਆਰਾ, ਦੀ ਨਕੋਦਰ ਹਿੰਦੂ ਸ਼ਹਿਰੀ ਸਹਿਕਾਰੀ ਬੈਂਕ ਲਿਮਟਿਡ, ਨਕੋਦਰ (ਬੈਂਕ) 'ਤੇ ਬੈਂਕਿੰਗ ਰੈਗੂਲੇਸ਼ਨ ਐਕਟ, 1949 ਦੀ ਧਾਰਾ 56 ਦੇ ਨਾਲ ਪੜ੍ਹੀ ਜਾਣ ਵਾਲੀ ਧਾਰਾ 35ਏ ਅਤੇ ਧਾਰਾ 36 (1) ਦੀ ਉਲੰਘਣਾ ਕਰਨ ਲਈ ₹3.00 ਲੱਖ (ਤਿੰਨ ਲੱਖ ਰੁਪਏ) ਦਾ ਆਰਥਕ ਜੁਰਮਾਨਾ ਲਗਾਇਆ ਹੈ। ਇਹ ਜੁਰਮਾਨਾ ਬੈਂਕਿੰਗ ਰੈਗੂਲੇਸ਼ਨ ਐਕਟ, 1949 ਦੀ ਧਾਰਾ 46(4)(i) ਅਤੇ ਧਾਰਾ 56 ਦੇ ਨਾਲ ਪੜ੍ਹੀ ਜਾਣ

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ਮਾਰਚ 06, 2023

Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – Nagar Urban Co-operative Bank Ltd., Ahmednagar – Extension of Period

Reserve Bank of India vide directive DoS.CO.SUCBs-West/S2399/12.22.159/2021-22 dated December 06, 2021 had placed Nagar Urban Co-operative Bank Ltd., Ahmednagar under Directions from the close of business on December 06, 2021 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to March 06, 2023. 2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vest

ਫ਼ਰ 28, 2023

Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Harihareshwar Sahakari Bank Limited, Wai, Satara - Extension of period

The Reserve Bank of India, vide directive CO.DOS.DSD.No.S1012/12-07-005/2022-2023 dated May 31, 2022, had placed Harihareshwar Sahakari Bank Limited, Wai, Satara under Directions from the close of business on May 31, 2022. 2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the af

ਫ਼ਰ 27, 2023

Compendium on Business Continuity Measures during the COVID-19 Pandemic

A compendium on Business Continuity Measures undertaken by the Reserve Bank of India (RBI) during the COVID-19 Pandemic was released on February 17, 2023 in the annual conference of the Corporate Strategy and Budget Department of the Reserve Bank of India (RBI) by Dr. Michael Debabrata Patra, Deputy Governor. To tackle the challenges posed by the pandemic, RBI mobilised on an unprecedented scale and speed to put in place a cross-functional response to safeguard lives

ਫ਼ਰ 21, 2023

Reserve Bank of India imposes monetary penalty on Sudha Co-operative Urban Bank Ltd., Regd No.599/TH, Suryapet, Telangana

The Reserve Bank of India (RBI) has imposed, by an order dated February 15, 2023, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Sudha Co-Operative Urban Bank Ltd., Regd No.599/TH, Suryapet, Telangana (the bank) for non-compliance with directions issued by RBI on Board of Directors, Exposure Norms and Statutory / Other Restrictions and Income Recognition, Asset Classification, Provisioning and Other related Matters as applicable to Urban Co-operative Banks

ਫ਼ਰ 20, 2023

RBI imposes monetary penalty on Pune People’s Co-operative Bank Limited, Pune

The Reserve Bank of India (RBI) has imposed, by an order dated Febryary 14, 2023, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Pune People’s Co-operative Bank Limited, Pune (the bank) for contravention of the directions issued by the Reserve Bank of India (RBI) on Interest Rate on Deposits. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Bank

ਫ਼ਰ 20, 2023

RBI imposes monetary penalty on Osmanabad Janata Sahakari Bank Ltd., Osmanabad (Maharashtra)

The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹1.50 lakh (Rupees One lakh fifty thousand only) on Osmanabad Janata Sahakari Bank Ltd., Osmanabad (Maharashtra) (the bank) for contravention of/non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act) and the Depositor Education and Awareness Fund Scheme, 2014 (the Scheme). This penalty has been imposed in exercise of powers vested in RBI un

ਫ਼ਰ 20, 2023

RBI imposes monetary penalty on The Vaijapur Merchants Co-operative Bank Ltd., Vaijapur (Maharashtra)

The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹4.00 lakh (Rupees Four lakh only) on The Vaijapur Merchants Co-operative Bank Ltd., Vaijapur (Maharashtra) (the bank) for contravention of/ non-adherence with the directions issued by RBI to Urban Co-operative Banks on lncome Recognition and Asset Classification (IRAC) norms. This penalty has been imposed in exercise of powers vested in RBI under the provisions of

ਫ਼ਰ 20, 2023

RBI imposes monetary penalty on Youth Development Co-operative Bank Limited, Kolhapur

The Reserve Bank of India (RBI) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Youth Development Co-operative Bank Limited, Kolhapur for non-adherence / violation of All Inclusive Directions imposed on the bank by RBI. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949,

ਫ਼ਰ 20, 2023

RBI imposes monetary penalty on Shree Samarth Sahakari Bank Ltd., Nashik (Maharashtra)

The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Shree Samarth Sahakari Bank Ltd., Nashik (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions-UCBs and Board of Directors-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisi

ਫ਼ਰ 20, 2023

RBI imposes monetary penalty on The Jalgaon District Central Co-operative Bank Ltd., Jalgaon (Maharashtra)

The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹1.50 lakh (Rupees One Lakh and Fifty Thousand only) on The Jalgaon District Central Co-operative Bank Ltd., Jalgaon (Maharashtra) (the bank) for contravention of/ non-compliance with the directions issued by the RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with S

ਫ਼ਰ 20, 2023

RBI imposes monetary penalty on The Satara Sahakari Bank Ltd., Mumbai

The Reserve Bank of India (RBI) has, by an order dated February 15, 2023, imposed a monetary penalty of ₹4.00 lakh (Rupees Four lakh only) on The Satara Sahakari Bank Ltd., Mumbai (the bank) for non-compliance with the directions issued by RBI on ‘Management of Advances and Exposure Norms and Statutory/Other Restrictions-UCBs’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of

ਫ਼ਰ 13, 2023

RBI imposes monetary penalty on The Vaidyanath Urban Co-operative Bank Limited, Parli Vaijnath, Beed (Maharashtra)

The Reserve Bank of India (RBl) has imposed, by an order dated February 07, 2023, a monetary penalty of ₹1.50 lakh (Rupees One lakh fifty thousand only) on The Vaidyanath Urban Co-operative Bank Ltd., Beed (Maharashtra) (the bank) for non-adherence/violation of specific directions issued to the bank by the RBI under Supervisory Action Framework (SAF) under section 36 (1) read with section 56 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed

ਫ਼ਰ 06, 2023

RBI imposes monetary penalty on The Utkal Cooperative Bank Ltd., Bhubaneswar, Odisha

The Reserve Bank of India (RBI) has imposed, by an order dated January 31, 2023, a monetary penalty of ₹15.00 lakh (Rupees Fifteen lakh only) on The Utkal Cooperative Bank Ltd. (the bank) for contravention of/ non-compliance with the directions issued by Reserve Bank of India (RBI) on (i) Exposure Norms and Statutory/Other Restrictions-UCBs and (ii) specific directions issued under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers

ਜਨ 30, 2023

RBI imposes monetary penalty on Ilkal Co-operative Bank Ltd., Ilkal, Karnataka

The Reserve Bank of India (RBI) has imposed, by an order dated January 23, 2023, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Ilkal Co-operative Bank Ltd., Ilkal, Karnataka (the bank) for non-adherence / violation of directions issued on Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46

ਜਨ 23, 2023

RBI imposes monetary penalty on Samarth Sahakari Bank Ltd., Solapur (Maharashtra)

The Reserve Bank of India (RBl) has imposed, by an order dated January 16, 2023, a monetary penalty of ₹1.50 lakh (Rupees One lakh and Fifty Thousand only) on Samarth Sahakari Bank Ltd., Solapur (Maharashtra) (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Income Recognition and Asset Classification (IRAC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47

ਜਨ 17, 2023

RBI imposes monetary penalty on Sardarganj Mercantile Co-operative Bank Ltd., district Anand (Gujarat)

The Reserve Bank of India (RBI) has, by an Order dated December 15, 2022, imposed a monetary penalty of ₹3.00 lakh (Rupees three lakh only) on Sardarganj Mercantile Co-operative Bank Ltd., district Anand (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’ and non-compliance with specific directions dated January 01,

ਜਨ 17, 2023

RBI imposes monetary penalty on Shree Vardhaman Sahakari Bank Ltd., Vadodara (Gujarat)

The Reserve Bank of India (RBI) has, by an Order dated December 12, 2022, imposed a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Shree Vardhaman Sahakari Bank Ltd., Vadodara (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers vested in the RBI under th

ਜਨ 17, 2023

RBI imposes monetary penalty on The Gujarat Rajya Karmachari Co-operative Bank Ltd., Ahmedabad (Gujarat)

The Reserve Bank of India (RBI) has, by an Order dated December 15, 2022, imposed a monetary penalty of ₹3.00 lakh (Rupees three lakh only) on The Gujarat Rajya Karmachari Co-operative Bank Ltd., Ahmedabad (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’ and sub-section (2) of section 26A of the Banking Regulatio

ਜਨ 17, 2023

RBI imposes monetary penalty on The Janata Co-operative Bank Ltd., Godhra, Dist. Panchmahal (Gujarat)

The Reserve Bank of India (RBI) has, by an Order dated December 16, 2022, imposed a monetary penalty of ₹3.00 lakh (Rupees three lakh only) on The Janata Co-operative Bank Ltd., Godhra, Dist. Panchmahal (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers vested in

ਜਨ 16, 2023

RBI imposes monetary penalty on The Citizens’ Co-operative Bank Limited, Jammu, Jammu and Kashmir

The Reserve Bank of India (RBI) has, by an order dated January 06, 2023, imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Citizens’ Co-operative Bank Limited, Jammu, Jammu and Kashmir (the bank) for contravention of section 35 A and section 36 (1) (a) read with section 56 of the Banking Regulation Act, 1949. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i)

ਜਨ 09, 2023

RBI imposes monetary penalty on Gondia District Central Co-operative Bank Limited, Gondia (Maharashtra)

The Reserve Bank of India (RBl) has imposed, by an order dated January 05, 2023, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Gondia District Central Co-operative Bank Limited, Gondia (Maharashtra) (the bank) for contravention of/non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act), the Depositor Education and Awareness Fund Scheme, 2014 (the Scheme) and directions issued by NABARD on “Frauds – Guidelines for Classification, R

ਜਨ 09, 2023

RBI imposes monetary penalty on The Shirpur Peoples’ Co-operative Bank Ltd., Shirpur (Maharashtra)

The Reserve Bank of India (RBl) has imposed, by an order dated January 04, 2023, a monetary penalty of ₹3.00 lakh (Rupees Three lakh only) on The Shirpur Peoples’ Co-operative Bank Ltd., Shirpur (Maharashtra) (the bank) for contravention of/non-compliance with the directions issued by the RBI to Urban Co-operative Banks on “Exposure Norms and Statutory / Other Restrictions – UCBs”, Income Recognition and Asset Classification (IRAC) and Know Your Customer (KYC). This p

ਜਨ 09, 2023

Reserve Bank of India imposes monetary penalty on The Attur Town Co-operative Bank Ltd., Attur, Salem District, Tamil Nadu

The Reserve Bank of India (RBI) has imposed, by an order dated January 02, 2023, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Attur Town Co-operative Bank Ltd., Attur, Salem District, Tamil Nadu (the bank) for non-adherence/violation of directions issued in the matter of Board of Directors – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56

ਜਨ 09, 2023

Reserve Bank of India imposes monetary penalty on Shree Mahayogi Lakshmamma Co-operative Bank Ltd., Kurnool, Andhra Pradesh

The Reserve Bank of India (RBI) has imposed, by an order dated January 02, 2023, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Shree Mahayogi Lakshmamma Cooperative Bank Ltd., Kurnool, Andhra Pradesh (the bank) for non-compliance with directions issued by RBI on Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1)

ਜਨ 09, 2023

RBI imposes monetary penalty on Tirupati Urban Co-operative Bank Ltd., Nagpur (Maharashtra)

The Reserve Bank of India (RBl) has imposed, by an order dated January 04, 2023, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Tirupati Urban Co-operative Bank Ltd., Nagpur (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i

ਜਨ 02, 2023

RBI imposes monetary penalty on Col. R.D.Nikam Sainik Sahakari Bank Ltd., Satara

The Reserve Bank of India (RBI) has, by an order dated December 28, 2022, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Col. R.D.Nikam Sainik Sahakari Bank Ltd., Satara (the bank) for contravention of Section 26-A read with section 56 of the Banking Regulation Act, 1949 (the Act) and the Depositor Education and Awareness Fund Scheme, 2014. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c

ਜਨ 02, 2023

RBI imposes monetary penalty on Sharad Sahakari Bank Ltd., Pune

The Reserve Bank of India (RBI) has, by an order dated December 28, 2022, imposed a monetary penalty of ₹6.00 lakh (Rupees Six lakh only) on Sharad Sahakari Bank Ltd., Pune (the bank) for non-compliance with the directions issued by RBI on ‘Know Your Customers’ and ‘Interest Rate on Deposits’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of Banking Regulation Act, 1949 (BR A

ਜਨ 02, 2023

RBI imposes monetary penalty on The Sahebrao Deshmukh Cooperative Bank Ltd., Mumbai

The Reserve Bank of India (RBI) has, by an order dated December 28, 2022, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Sahebrao Deshmukh Cooperative Bank Ltd., Mumbai (the bank) for non-compliance with the directions issued by RBI on ‘Frauds monitoring and reporting mechanism’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of Banking Regulation Act,

ਦਸੰ 19, 2022

RBI imposes monetary penalty on The Halol Mercantile Co-operative Bank Ltd., Halol, Dist. Panchmahal (Gujarat)

The Reserve Bank of India (RBI) has, by an order dated December 16, 2022, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Halol Mercantile Co-operative Bank Ltd., Halol, Dist. Panchmahal (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers ve

ਦਸੰ 19, 2022

RBI imposes monetary penalty on The Bechraji Nagarik Sahakari Bank Ltd., Bechraji, district Mehsana (Gujarat)

The Reserve Bank of India (RBI) has, by an Order dated December 12, 2022, imposed a monetary penalty of ₹50,000/- (Rupees fifty thousand only) on The Bechraji Nagarik Sahakari Bank Ltd., Bechraji, district Mehsana (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of power

ਦਸੰ 19, 2022

RBI imposes monetary penalty on Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat)

The Reserve Bank of India (RBI) has, by an Order dated December 12, 2022, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers vested in the RBI

ਦਸੰ 19, 2022

RBI imposes monetary penalty on Nagarik Sahakari Bank Ltd., Babra, district Amreli (Gujarat)

The Reserve Bank of India (RBI) has, by an Order dated December 12, 2022, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Nagarik Sahakari Bank Ltd., Babra, district Amreli (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers vested in the RBI un

ਦਸੰ 19, 2022

RBI imposes monetary penalty on Shree Mahalaxmi Mercantile Co-operative Bank Ltd., Dabhoi, district Vadodara (Gujarat)

The Reserve Bank of India (RBI) has, by an Order dated December 12, 2022, imposed a monetary penalty of ₹50,000/- (Rupees fifty thousand only) on Shree Mahalaxmi Mercantile Co-operative Bank Ltd., Dabhoi, district Vadodara (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise

ਦਸੰ 19, 2022

RBI imposes monetary penalty on The Halol Urban Co-operative Bank Ltd., Halol, Dist. Panchmahal (Gujarat)

The Reserve Bank of India (RBI) has, by an Order dated December 12, 2022, imposed a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Halol Urban Co-operative Bank Ltd., Halol, Dist. Panchmahal (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers vested

ਦਸੰ 19, 2022

RBI imposes monetary penalty on The Harij Nagrik Sahakari Bank Ltd., Harij, district Patan (Gujarat)

The Reserve Bank of India (RBI) has, by an Order dated December 12, 2022, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Harij Nagrik Sahakari Bank Ltd., Harij, district Patan (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers vested in th

ਦਸੰ 19, 2022

RBI imposes monetary penalty on The Bodeli Urban Co-operative Bank Ltd., Bodeli, Dist. Chhota Udepur (Gujarat)

The Reserve Bank of India (RBI) has, by an order dated December 16, 2022, imposed a monetary penalty of ₹2.25 Lakh (Rupees Two Lakh Twenty Five Thousand only) on The Bodeli Urban Co-operative Bank Ltd., Bodeli, Dist. Chhota Udepur (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification’ and ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquid

ਦਸੰ 19, 2022

RBI imposes monetary penalty on The Viramgam Mercantile Co-operative Bank Ltd., Viramgam, district Ahmedabad (Gujarat)

The Reserve Bank of India (RBI) has, by an Order dated December 12, 2022, imposed a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Viramgam Mercantile Co-operative Bank Ltd., Viramgam, district Ahmedabad (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of p

ਦਸੰ 19, 2022

RBI imposes monetary penalty on The Lakhwad Nagarik Sahakari Bank Ltd., Lakhwad, district Mehsana (Gujarat)

The Reserve Bank of India (RBI) has, by an Order dated December 12, 2022, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Lakhwad Nagarik Sahakari Bank Ltd., Lakhwad, district Mehsana (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers veste

ਦਸੰ 19, 2022

RBI imposes monetary penalty on Saraspur Nagrik Co-operative Bank Ltd., Ahmedabad (Gujarat)

The Reserve Bank of India (RBI) has, by an order dated December 16, 2022, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Saraspur Nagrik Co-operative Bank Ltd., Ahmedabad (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers vested in the RBI und

ਦਸੰ 19, 2022

RBI imposes monetary penalty on The Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat)

The Reserve Bank of India (RBI) has imposed, by an order dated December 14, 2022, a monetary penalty of ₹7.00 lakh (Rupees Seven Lakh only) on The Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification’ and ‘Master Circular- Management of Advances – UCBs’. This penalty has been imposed in exercise of powers vested in the

ਦਸੰ 19, 2022

RBI imposes monetary penalty on The Kachchh District Central Co-operative Bank Ltd., Kachchh (Gujarat)

The Reserve Bank of India (RBI) has, by an Order dated December 16, 2022, imposed a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Kachchh District Central Co-operative Bank Ltd., Kachchh (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Cash Reserve Ratio (CRR) for Non-Scheduled StCBs and CCBs and Statutory Liquidity Ratio (SLR) for StCBs and CCBs’. This penalty has been imposed in exercise of powers vested in the RBI

ਦਸੰ 13, 2022

RBI imposes monetary penalty on Eastern & North-East Frontier Railway Co-operative Bank Ltd., Kolkata, West Bengal

The Reserve Bank of India (RBI) has imposed, by an order dated December 07, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Eastern & North-East Frontier Railway Co-operative Bank Ltd., Kolkata, West Bengal (the bank) for contravention of/ non-adherence with (i) specific directions issued under Supervisory Action Framework (SAF) and (ii) certain provisions of the ‘Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016’. This penalty ha

ਦਸੰ 12, 2022

RBI imposes monetary penalty on The Vaidyanath Urban Co-operative Bank Limited, Parli Vaijnath, Beed, Maharashtra

The Reserve Bank of India (RBl) has imposed, by an order dated December 05, 2022, a monetary penalty of ₹2.50 lakh (Rupees Two lakh fifty thousand only) on The Vaidyanath Urban Co-operative Bank Ltd., Beed (Maharashtra) (the bank) for contravention of/non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c)